What Is Estate Planning?
Estate planning is the process of arranging ownership and use of assets to help meet lifetime financial objectives in a tax efficient manner, and simultaneously help provide for survivors’ needs and the disposition of property at death. A carefully implemented estate plan can help to:
- Create and conserve assets during life
- Minimize death taxes and estate settlement costs
- Ensure that cash is available to pay unavoidable taxes and costs
- Provide an orderly distribution of assets that meets the estate owner’s objectives and intentions
- Provide peace of mind and family harmony.